Healthy fod for babies
To access a PDF version of this newsletter, please click here here If you would like to receive this newsletter via email, please register at: here FACTORS TO WATCH 11: 30 am: SBI Managing Director C.S. Shetty and Punjab National Bank MD & CEO C.H.S.S. Mallikarjuna Rao at FICCI’s webinar. 12: 00 pm: DIPAM Secretary Tuhin Kanta Pandey at the digital launch ceremony of Bharat Bond Series II. INDIA TOP NEWS • Apple supplier Foxconn, others hit as India holds up imports from China-sources India's additional scrutiny of imports from China has disrupted operations at plants owned by Apple supplier Foxconn in southern India, three sources told Reuters, and other foreign firms are also facing delays as tensions between the two countries build. • China hopes India corrects actions against Chinese firms immediately China's commerce ministry said on Thursday that it hopes India would correct its discriminatory actions against Chinese companies immediately, after India banned Chinese mobile apps amid a border crisis between the two countries. • Unilever's India unit to rebrand 'Fair & Lovely' cream to 'Glow & Lovely' The Indian arm of global consumer giant Unilever said on Thursday it would rebrand its skin-lightening cream 'Fair & Lovely' to 'Glow & Lovely,' after facing backlash that the name promoted negative stereotypes towards darker skin tones. • PM Modi shuts Weibo account after banning Chinese apps Indian Prime Minister Narendra Modi has deleted his account on Sina Weibo, China's answer to Twitter, an Indian government source and the company said, as tensions between the two countries continue to simmer over a border skirmish. • World's e-waste "unsustainable", says UN report citing China, India and U.S. Across the river from Delhi's Red Fort, the grim neighbourhood of Seelampur lives off what consumers in the modern world throw away - their broken or obsolete electronic and electrical goods. Home to one of the world's largest markets for e-waste, Seelampur exemplifies the challenge highlighted in a U.N.-led report released on Thursday. • Indian police allege fraud by GVK chairman, others at Mumbai airport India's federal police have filed a criminal complaint against the chairman of conglomerate GVK Group and others for alleged fraud in the development of Mumbai's international airport that resulted in the government losing more than $92 million. • India's June gold imports plunge on record price, lockdown India's gold imports plunged 86% year-on-year in June due to record high prices and as international air travel was banned and many jewellery shops closed amid a nationwide lockdown to curb the spread of coronavirus, a government source said. • Other deaths spike in Indian city ravaged by coronavirus A large Indian city badly hit by the coronavirus has recorded a sharp rise in deaths not attributed to the outbreak, according to official data and burial records, highlighting how the pandemic has affected general healthcare. GLOBAL TOP NEWS • U.S. job growth roars back, but COVID-19 resurgence threatens recovery The U.S. economy created jobs at a record clip in June as more restaurants and bars reopened, but 31.5 million Americans were collecting unemployment checks in the middle of the month, and a resurgence in COVID-19 cases suggested the labor market could suffer a setback in July. • China's services sector grows at fastest pace in over a decade in June - Caixin PMI China's services sector expanded at the fastest pace in over a decade in June as the easing of coronavirus-related lockdown measures revised consumer demand, a private survey showed on Friday, though companies continued to shed jobs. • U.S. coronavirus cases hit new global record, rising over 55,000 in single day The United States reported more than 55,000 new COVID-19 cases on Thursday, the largest daily increase any country has ever reported, according to a Reuters tally. LOCAL MARKETS OUTLOOK (As reported by NewsRise) • SGX Nifty nearest-month futures were 0.4% higher at 10,596.00. • The Indian rupee is expected to strengthen further against the U.S. currency, tracking the dollar’s losses in currency futures and the non-deliverable forwards. • Indian government bond yields are likely to edge higher in early trade, ahead of a fresh supply of notes at a weekly debt auction today. The yield on the benchmark 5.79% bond maturing in 2030 is likely to trade in a range of 5.82%-5.88% until the auction today. GLOBAL MARKETS • Wall Street closed higher and the Nasdaq reached an all-time closing high on Thursday as investors headed into their long holiday weekend buoyed by a record surge in payrolls, which provided assurance that the U.S. economic recovery was well under way. • Asian shares rallied to a four-month high on robust U.S. payrolls data and a brisk pickup in Chinese service sector activity but a surge in coronavirus cases in the United States kept a lid on further risk-taking. • The dollar was hemmed into a narrow range, supported by safe-haven flows as a resurgence of the coronavirus in the United States discouraged some investors from taking on excessive risk. • U.S. Treasury yields, which rose on Thursday after better-than-expected June jobs data, slipped later in the session ahead of a long holiday weekend, which could bring more troubling news in the battle against the coronavirus outbreak. • Crude prices fell as the resurgence of the coronavirus globally and in the United States, the world's largest oil consumer, dimmed the prospects of fuel demand recovery. • Gold was flat, trading in a narrow $4 range, as worries over surging coronavirus cases globally and lingering trade tensions between the United States and China overshadowed strong U.S. jobs data. CLOSE FII INVESTMENTS EQUITIES DEBT PNDF spot 74.95/74.98 July 2 (1,685.16) crores 362.51 crores 10-yr bond yield 5.84% Month-to-date (3,628) crores 339 crores Year-to-date (22,141) crores (1,06,620) crores (FII investment numbers are in Indian rupees. Source: National Securities Depository Limited) For additional data: India govt bond market volumes Stock market reports Non-deliverable forwards data Corporate debt stories [IN CORPD] Local market closing/intraday levels [IN SNAPSHOT] Monthly inflows [INFLOWS RTRS TABLE IN] ($1 = 74.74 Indian rupees) (Compiled by Pranay Prakash in Bengaluru)
Leave a comment